Activision-Blizzard shareholders will vote on whether to allow Microsoft’s buyout April 28

    
13
We have Thanos at home.

We all had to know that the process of Microsoft buying out Activision-Blizzard wasn’t going to happen quickly or elegantly, and that’s not even taking in to account the mire of scandals the studio finds itself in. Still, there is another step to the whole plodding process that’s on the docket: a shareholder vote to approve the buyout, which is expected to happen on Thursday, April 28th.

An SEC filing provided to shareholders stresses the importance of a majority approving the process, stating that approval is “advisable, fair to and in the best interests of Activision-Blizzard and its stockholders.” Should the buyout be approved and completed, ATVI will be removed from the stock exchange, but shareholders will be entitled to $95 in cash for every share they own, while a failure for the buyout to complete would mean a “significant” decline in stock value and that there would be “no assurance [that] Activision-Blizzard’s business, prospects, or results of operations will not be adversely impacted.”

On the subject of the buyout, the FTC is further looking into the deal, as both ActiBlizz and Microsoft were asked to provide additional information and documentation at the beginning of March. That said, Activision-Blizzard still expects the buyout to go as planned, completing sometime in June 2023.

sources: GamesIndustry.biz, SEC.gov, Seeking Alpha, cheers Giga!
Activision-Blizzard is considered a controversial gaming company owing to a long string of scandals over the last few years, including the Blitzchung boycott, mass layoffs, labor disputes, and executive pay fiasco. In 2021, the company was sued by California for fostering a work environment rife with sexual harassment and discrimination, the disastrous corporate response to which compounded Blizzard’s ongoing pipeline issues and the widespread perception that its online games are in decline. Multiple state and federal agencies are investigating the company as employees strike and call for Bobby Kotick’s resignation. As of 2022, the company is being acquired by no less than Microsoft.
Advertisement
Previous articleElite Dangerous deploys an Update 11 hotfix that adds more bartender materials and fixes Protect missions
Next articleDual Universe’s Athena update hits PTS March 31, will be the last major update before launch

No posts to display

13 Comments
newest
oldest most liked
Inline Feedback
View all comments